Balance in the account distributed among heirs subject to law governed the deceased.

Kandyan law

Roman Dutch Law

Muslim Law

Thesawalami Law

If value of deceased estate is more than Rs.500,000/- Testamentary proceeding under Civil law must be followed:

In the Event of Death of a Joint Account Holder
Survivor is entitled to the balance standing in the account.Withdrawal from Savings Account in the event of account holder is Hospitalized –Signature of the withdrawal must be certified by the Doctor

Opening of Account to Blind Person

Can be opened jointly with a close relative Weather money can be withdrawn/deposited to an account at a branch other than the branch whose account is maintained

Can be withdrawn/deposited at any branch of the bank since all branches are inter-linked through computer network.

Liability of Guarantors:
In the event of default of the borrower, liability of guarantor is also as same as liability of borrower.

Effect of Crossing of “Account Payee only”
Proceeds of the cheques can be collected only to the payee’s account